The straight line

Business Interest Deductibility – Seth Gilson, Partner, CPA

The 2017 Tax Cut and Jobs Act (TCJA) amended the rules for deducting business interest expense (BIE). In general, under the previous law a business could deduct any amounts paid or ac­crued for interest during the tax year. The TCJA added new limits and requires additional compu­tations in determining the amount of deductible business interest...

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Key Changes Under TCJA

The Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump on Dec. 22, 2017. The bill is the most significant change to the tax code since the Reagan era. What are the key changes included in this law? The TCJA permanently lowered the corporate tax rate and made significant changes for...

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Governmental: What We Have Seen – Elizabeth Thyer, Partner, CPA

+ Governmental entities are implementing Governmental Accounting Standards Board Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, (GASB 75) for the fiscal year ended June 30, 2018. This statement supersedes GASB 45 and portions of others. The revised requirements provided in GASB 75 establish new financial reporting requirements for local...

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